TLT Options History — November 2009

In November 2009, TLT traded between $93.24 and $96.63. ATM implied volatility averaged 13.5%, placing in the 3.4% IV rank vs the trailing year. The 30-day expected move averaged 3.9%. IV traded above realized volatility by 0.4% (HV 20d: 13.1%). Max pain ranged from $95.00 to $96.00. Net GEX was positive for 11 of 20 trading days. Term structure was in contango for 19 of 20 days. Put/call ratio averaged 1.37.

Notable Days

  • 2009-11-06: Highest Volume — 30,875 contracts
  • 2009-11-27: Largest IV spike — 11.1% change
  • 2009-11-03: Highest IV Rank — 13.5%
  • 2009-11-03: Largest Expected Move — 4.8%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$94.61$93.24$96.63$95.05$96.63
Max Pain$95.60$95.00$96.00$96.00$95.00
ATM IV13.5%11.2%16.6%16.0%12.8%
Expected Move3.9%3.2%4.8%4.6%3.7%
HV 20d13.1%8.7%16.7%16.7%8.7%
HV 60d14.5%13.4%15.7%15.7%13.4%
IV Rank3.4%0.0%13.5%10.9%6.4%
IV Percentile3.5%0.0%23.0%16.3%2.8%
Term Structure1.0%-0.0%2.0%0.2%0.4%
VWIV13.8%11.1%16.6%15.8%14.4%
Skew 25d0.9%0.2%1.9%1.6%0.7%
Skew 10d1.7%0.3%3.0%2.8%0.8%
Call IV 25d13.4%11.2%15.9%15.5%12.5%
Put IV 25d14.3%11.4%17.4%17.1%13.1%
Bid-Ask Spread %8.244.9812.1210.195.93
Gamma HHI0.170.100.490.100.12
Net GEX10.9M-34.4M106.2M-9.6M9.7M
Net DEX451.5M135.7M736.3M427.9M135.7M
Net VEX-3.0M-3.6M-2.7M-3.6M-2.7M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.370.154.560.941.35
Total Volume15,919.553,68630,8756,60628,162
Total OI444,382.8384,870488,180419,757410,842

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2009-11-02$95.05$96.0016.0%4.6%16.7%10.9%15.8%1.6%0.2%-9.6M427.9M-3.6M0.9410.19N/AN/A3,4143,192175,836243,921
2009-11-03$94.10$96.0016.6%4.8%16.7%13.5%16.6%1.5%-0.0%-18.8M568.9M-3.5M4.088.12N/AN/A2,47210,098177,952245,008
2009-11-04$93.24$96.0015.4%4.4%16.1%8.2%15.5%0.8%0.8%-29.8M703.8M-3.3M1.7411.98N/AN/A5,6739,843180,052249,023
2009-11-05$93.24$96.0014.9%4.3%15.9%5.9%14.8%0.8%0.7%-34.3M736.3M-3.2M2.0312.12N/AN/A3,1966,482181,022252,015
2009-11-06$93.33$96.0013.8%4.2%13.9%1.4%14.8%1.7%1.2%-34.4M714.3M-3.1M0.168.76N/AN/A26,5744,301182,169252,291
2009-11-09$93.44$96.0014.2%4.3%13.9%3.2%15.0%1.9%0.8%-17.1M660.7M-3.1M0.158.24N/AN/A16,2262,464198,244250,774
2009-11-10$93.27$96.0014.0%4.2%13.7%2.3%14.6%1.3%0.8%-5.4M666.5M-3.1M1.838.23N/AN/A2,7535,041212,007251,547
2009-11-11$93.66$96.0014.3%4.2%12.9%3.6%14.7%0.9%0.9%8.2M594.3M-3.2M0.789.40N/AN/A7,2165,653214,724254,102
2009-11-12$93.49$95.0014.2%4.1%12.8%3.1%14.3%0.7%1.0%2.1M629.5M-3.1M1.648.06N/AN/A3,6766,035217,950256,357
2009-11-13$93.92$95.0013.7%3.9%12.6%1.0%14.0%0.6%1.3%17.9M541.1M-3.2M4.568.35N/AN/A1,0054,585218,877257,306
2009-11-16$95.02$95.0014.1%4.0%13.0%2.6%15.0%1.0%1.0%54.2M273.8M-3.1M1.777.48N/AN/A9,65717,117218,977257,925
2009-11-17$95.53$95.0013.0%3.7%13.0%0.0%13.1%1.1%1.1%47.4M212.5M-3.0M1.078.81N/AN/A13,68614,697213,782265,429
2009-11-18$94.97$96.0012.5%3.6%13.0%0.0%12.8%1.3%1.4%68.7M379.2M-3.0M0.608.63N/AN/A8,3074,951220,972267,208
2009-11-19$95.14$96.0012.2%3.5%12.9%0.0%12.3%0.3%1.8%74.2M333.0M-2.9M0.407.82N/AN/A13,0585,257214,733266,460
2009-11-20$95.12$96.0011.7%3.4%12.6%0.0%11.7%0.7%2.0%106.2M330.8M-2.8M0.415.60N/AN/A19,5187,980217,366266,638
2009-11-23$95.00$96.0011.8%3.4%11.6%0.2%11.8%0.2%1.7%-17.5M403.3M-2.7M1.064.98N/AN/A9,58410,131159,877224,993
2009-11-24$95.60$95.0011.2%3.2%10.8%0.0%11.1%0.2%1.7%-9.0M313.4M-2.7M0.435.88N/AN/A7,5093,200167,062232,525
2009-11-25$96.04$95.0011.2%3.2%10.8%0.2%11.4%0.2%1.1%169.7K234.0M-2.7M1.547.85N/AN/A4,7307,262170,819232,674
2009-11-27$96.40$95.0012.5%3.6%10.0%5.1%12.6%0.6%0.8%5.6M170.8M-2.8M0.828.37N/AN/A2,0271,659171,562236,635
2009-11-30$96.63$95.0012.8%3.7%8.7%6.4%14.4%0.7%0.4%9.7M135.7M-2.7M1.355.93N/AN/A11,98616,176173,399237,443